Cleveland-Cliffs Inc. Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2020

The following tables reflect the changes in Accumulated other comprehensive loss related to shareholders’ equity:


	(In Millions)
	Postretirement Benefit Liability, net of tax		Foreign Currency Translation		Derivative Financial Instruments, net of tax		Accumulated Other Comprehensive Loss
December 31, 2019	$	(315.7)	$	—	$	(3.1)	$	(318.8)
Other comprehensive loss before reclassifications	—		(0.9)		(5.2)		(6.1)
Net loss reclassified from accumulated other comprehensive loss	5.6		—		2.2		7.8
March 31, 2020	$	(310.1)	$	(0.9)	$	(6.1)	$	(317.1)
Other comprehensive income before reclassifications	0.4		0.7		1.4		2.5
Net loss reclassified from accumulated other comprehensive loss	5.6		—		3.1		8.7
June 30, 2020	$	(304.1)	$	(0.2)	$	(1.6)	$	(305.9)
Other comprehensive income before reclassifications	0.4		1.6		12.2		14.2
Net loss reclassified from accumulated other comprehensive loss	6.2		—		3.5		9.7
September 30, 2020	$	(297.5)	$	1.4	$	14.1	$	(282.0)


	(In Millions)
	Postretirement Benefit Liability, net of tax		Derivative Financial Instruments, net of tax		Accumulated Other Comprehensive Loss
December 31, 2018	$	(281.1)	$	(2.8)	$	(283.9)
Other comprehensive income before reclassifications	0.2		2.5		2.7
Net loss reclassified from accumulated other comprehensive loss	5.5		0.2		5.7
March 31, 2019	$	(275.4)	$	(0.1)	$	(275.5)
Other comprehensive income (loss) before reclassifications	0.3		(2.3)		(2.0)
Net loss reclassified from accumulated other comprehensive loss	5.5		0.2		5.7
June 30, 2019	$	(269.6)	$	(2.2)	$	(271.8)
Other comprehensive income (loss) before reclassifications	0.3		(0.5)		(0.2)
Net loss reclassified from accumulated other comprehensive loss	5.5		0.9		6.4
September 30, 2019	$	(263.8)	$	(1.8)	$	(265.6)

The following table reflects the details about Accumulated other comprehensive loss components related to shareholders’ equity:


	(In Millions)
Details about Accumulated Other Comprehensive Loss Components	Amount of (Gain)/Loss Reclassified into Income, Net of Tax													Affected Line Item in the Statement of Unaudited Condensed Consolidated Operations
			Three Months Ended September 30,									Nine Months Ended September 30,
			2020			2019			2020			2019
Amortization of pension and OPEB liability:
Prior service credits	$	(0.3)		$	(0.2)		$	(0.8)		$	(0.6)		Other non-operating income
Net actuarial loss	8.1			7.2			22.8			21.5			Other non-operating income
	7.8			7.0			22.0			20.9			Total before taxes
	(1.6)			(1.5)			(4.6)			(4.4)			Income tax benefit (expense)
	$	6.2		$	5.5		$	17.4		$	16.5		Net of taxes

Unrealized loss on derivative financial instruments:
Commodity contracts	$	4.5		$	1.2		$	11.2		$	1.7		Cost of goods sold
	(1.0)			(0.3)			(2.4)			(0.4)			Income tax benefit (expense)
	$	3.5		$	0.9		$	8.8		$	1.3		Net of taxes

Total reclassifications for the period, net of tax	$	9.7		$	6.4		$	26.2		$	17.8